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UN GA Votes In Favour of Pro-Ukrainian Resolution
27.03.2014 23:01
UN GA Votes In Favour of Pro-Ukrainian Resolution
Photo Credit: http://www.peacewomen.org

The majority of UN member-states have voted in favour of the resolution that upholds the territorial integrity of Ukraine at a session of the United Nations General Assembly.

      100 countries voted in favour, 58 abstained (including China, India and Brazil) and 11 were against, including Russia, Armenia, Belarus, Bolivia, Cuba, North Korea, Nicaragua, Sudan, Syria, Venezuela and Zimbabwe.

      The resolution does not have a binding force.

      Earlier, Russia-IC reported that Moscow may be building up its military on the Ukrainian border.

      Also, according to Foreign Policy, Republican members of the House Armed Services Committee sent a letter to President Obama expressing concern about a possible Russian invasion of eastern Ukraine.

      The FP quotes administration officials who assess the number of troops “massed on the eastern border of Ukraine at between 25,000 and 35,000.”

      The West has condemned Russia’s decision to absorb Crimea and imposed a raft of sanctions on senior officials and individuals with close ties to the Kremlin.

      There’ve been many concerns about the economic impact of Russia’s move to incorporate Crimea.

      The Russian economy is unlikely to rise above 2 percent in 2014 amid investor uncertainty over the possible impact of sanctions, says the Economic Development Minister.

      According to Alexey Ulyukayev, GDP is expected to grow 1.8-1.9 percent undermined by capital flight worth $100 billion.

      A military invasion of Crimea would cost the Russian economy some three percent of GDP, says Vedomosti.

      Earlier, Russia-IC reported on the possible repercussions of sanctions and investors’ fears on the pace of economic development.

      For example, Bank of America Merrill Lynch forecast that Russia’s GDP would shrink some three percent. The transit of natural gas to European consumers worth $30 billion may be disrupted, too.

      The EU may eventually block the construction of the South Stream pipeline and switch to other energy sources in a move towards an economic boycott.

      Public spending is bound to go up to pay for Crimea’s absorption. The Russian authorities have pledged financial aid to the residents of the autonomy whose budget is facing a $1 billion deficit.

       




Author: Mikhail Vesely

Tags: Vitaly Churkin Ukraine crisis Crimea   

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